Fintech
Broadway Strategic Metals Signs Binding Agreement to Merge with Rossiter Mining
Toronto, Ontario–(Newsfile Corp. – March 31, 2023) – Broadway Strategic Metals Inc. (the “Company” or “BSM“) and Rossiter Mining Corp. (“Rossiter“) are pleased to announce the signing of a binding Letter of Intent (“LOI“) for a merger of the two companies. The proposed transaction will be structured in a manner most efficient and effective to result in Rossiter, directly or indirectly, acquiring all outstanding securities of BSM. The final structure for the transaction will be subject to satisfactory tax, corporate and securities law advice for both the BSM and Rossiter. The transaction is subject to completion of due diligence as well as any and all required shareholder, exchange, and regulatory approvals.
The resulting entity, to be known as Broadway Strategic Metals (“Broadway“), plans to apply to list its shares on the Canadian Securities Exchange (“CSE”). Broadway’s main asset is its well mineralized district-scale mining concessions in the Republic of Panama, located immediately adjacent to First Quantum’s Cobre Panama Copper-Gold Mine property. Mineralization in the district and elsewhere in Panama varies from extensive bodies of copper with minor gold silver and molybdenum mineralization in porphyry style copper dominated bodies, to extensive epithermal to hydrothermal vein systems and sulphide replacement mineralized bodies. The Company’s concessions include both mineralized environments within its 100% interest in Contract No. 8 representing 9,984 hectares that hosts the past producing Molejón Gold Project mine, and the Santa Lucia Copper Gold Project both located in the Donoso District of Colon Province.
The Molejón Gold Silver Project includes a former mining operation with a historic resource of over 800,000 ounces of gold and 1,400,000 ounces of silver that Broadway plans to evaluate and if feasible, bring back into production, given the current higher commodity prices that may drive improved economics (Source – Behre Dolbear, (2012), Molejón Project NI 43-101 Technical Report, Donoso District, Colon Province, Republic of Panamá). This resource is not NI 43-101 compliant, is historic in nature and should not be relied upon.
The Santa Lucia Copper Gold Silver Project covers 8,800 hectares and historic field sampling by Adrian Resources in 1998 returned anomalous values of gold, silver, and copper.
In addition to the Molejón and Santa Lucia projects, BSM has signed a letter of intent with the Republic of Panama, including the concessions known as Palmilla Copper Gold Project (“Palmilla“). Palmilla has a historic NI-43-101 resource with 27,020,000 tonnes of Measured and Indicated Resources, containing 143,900,000 pounds of copper (“Cu“) and 509,400 ounces of gold (“Au“); and 11,060,000 tonnes of Inferred Resources containing 54,600,000 pounds of Cu and 144,000 ounces of Au (Source – NI 43-101 Palmilla Deposit Resource Update Rio Belencillo Zone 1 Concession Colon Province, Panama Oct 29, 2013. Prepared by SGS Canada Inc. Pages 3, 77. This resource is not NI 43-101 compliant, is historic in nature, and should not be relied upon). The concessions covering the Palmilla deposit are not currently held by the Company, however under specific conditions and deliverables, these additional concessions are available for Broadway to purchase.
The terms of the LOI require Rossiter shareholders to approve a change of name, a share consolidation of one new share for three existing shares, and for Rossiter to have a positive working capital position. BSM is required to provide audited financial statements, prospectus-level disclosure, and a listing statement.
Concurrent with the LOI, BSM is the process of completing a US$10 million convertible debenture financing (the “Convertible“). Under the terms of the Convertible, BSM will pay a 15% coupon over a 36-month term, or the investor can convert into BSM post listing shares at a 30% discount to share price at the time of conversion. There is an 8% finder’s fee payable on the Convertible. BSM has already received over US$5 million in commitments for the Convertible.
In addition to the Convertible, BSM is in discussions with institutional grade investors to provide US$200 to US$300 million in project financing should BSM decide to proceed with re-starting the Molejón Mine; to fund drilling to expand the deposit; or, to carry out regional exploration to identify new discoveries – all three of which would add significantly to shareholder value.
Broadway anticipates approximately 36 million proforma common shares issued and outstanding with a total of 5.4 million outstanding common share purchase warrants, which would provide an additional $11.3 million, if fully exercised.
The Board of Directors of Broadway is projected to include Duane Parnham, Manuel Nuñez, Carlos Lucas Pulido, James Macintosh, and Stephen Coates. The management team will consist of Mr. Parnham, Executive Chairman and CEO, and Carlos Lucas Pulido, Country Manager.
Both Mr. Parnham and Rodrigo Diaz will be deemed Insiders by virtue of ownership positions in Broadway. Insiders, including management, will own roughly 40% of Broadway and expects Insiders and management to agree to voluntary escrow terms.
Mr. Parnham has a record of success in corporate development, regulatory compliance with publicly listed companies, geological and environmental consulting and corporate finance services to the hydrocarbon and mining industries. Mr. Nuñez is a practising attorney and Professor of Banking Law, Universal Trials, and Agricultural and Mining Law at the Latin American University of Science and Technology. Mr. Pulido has a great amount of experience advising private companies in the execution of contracts with the government of Panama. Mr. Macintosh has over 37 years of experience in the mining industry, as a mining analyst and various executive / directorial positions with both public and private companies. Earlier in his career, Mr. Macintosh was VP, Corporate Development for a company with several Central American gold projects. Mr. Coates has extensive international experience in the small-cap and natural resources sectors and has advised numerous companies in financial structuring, business development, communications, and market finance.
Broadway will be represented by Corporate Counsel Professional Corporation, a North American corporate and securities law firm, that has significant experience taking companies public.
Qualified Person
Bruce Durham, P.Geo., is a Qualified Person (“QP”), as that term is defined by Canadian regulatory guidelines under NI 43-101 and has read and approved the technical information contained in this press release. Readers are reminded that results and other technical information related to the Molejón, Santa Lucia and Palmilla Projects in this release are historic in nature and should not be relied upon as the QP is unable to verify the information contained in the historic report referenced given the work was completed by a prior operator.
About Broadway Strategic Metals
Broadway Strategic Metals is a privately-owned mining company managed by industry veterans with over 30 years of experience advising governments of over 15 countries on resource exploration & development, risk management, sustainability, technology, job creation, financing, mining, and education. Broadway’s consortium of international mining executives, legal experts, community partners, and finance specialists bring insight and a holistic understanding of the socio-economic legacy issues effecting mine development.
For more information, contact:
Rossiter Mining Corp.: (+1) 647-493-9910
Iryna Zheliasko, Investor Relations, at [email protected]
or
Broadway Strategic Metals: (+1) 416-574-1007
Jason Bagg, Manager Public Relations, at [email protected]
On Behalf of their Boards of Directors,
Stephen Coates, President
Rossiter Mining Corp.
Duane Parnham, Executive Chairman and CEO
Broadway Strategic Metals
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the companies. Forward-looking information is based on certain key expectations and assumptions made by the management of the companies. Although the companies believe that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the companies can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The companies disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160891
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
The post Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech appeared first on .
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